Philippines: Sugar Annual
Link to report:
Post forecasts Crop Year (CY) 2020/21 raw sugar production to drop to 2.0 million metric tons (MT), as sugarcane areas continue shrinking from the conversion of sugarcane lands, particularly in Luzon, and as producers remain cautious about the impact of the liberalization of the sugar industry being considered by the Philippine government. CY 2020/21 sugar demand is expected to increase marginally to 2.35 million MT, as cane sugar consumption rises with the global economic recovery from COVID-19 and with food/beverage manufacturers expanding production. Refined sugar imports in CY 2020/21 will likely increase to 450,000 MT to meet this growing demand. Exports of sugar to the U.S. market are expected to reach 140,000 MT, following two years of only exporting 120,000 MT, as prices of "A" sugar improve.
